Unclaimed deposits with banks stand at Rs 67,003 crore

New Delhi: Unclaimed deposits with banks, including private lenders, stood at Rs 67,003 crore at the end of June 2025, Parliament was informed on Monday.

As of June 30, 2025, public sector banks were saddled with unclaimed deposits of Rs 58,330.26 crore while private sector had Rs 8,673.72 crore, as per the Reserve Bank of India.

Of the public sector banks, SBI is leading the pack with unclaimed deposits of Rs 19,329.92 crore, followed by Punjab National Bank Rs 6,910.67 crore and Canara Bank Rs 6,278.14 crore, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha.

Among the private sector banks, ICICI Bank has the highest unclaimed deposits of Rs 2,063.45 crore, followed by HDFC Bank Rs 1,609.56 crore and Axis Bank Rs 1,360.16 crore, he said.

To enhance accessibility and simplify the search process for unclaimed deposits, RBI has launched the Centralised Web Portal UDGAM (Unclaimed Deposits- Gateway to Access Information) for public.

"As on July 1, 2025, 8,59,683 users registered and accessed UDGAM portal. The said portal facilitates the registered users to search unclaimed deposits/ amounts across multiple banks at one place in a centralized manner," he said.

With regard to utilisation of unclaimed fund, RBI has stated that as per the provisions of The Depositor Education and Awareness Fund Scheme (Scheme), 2014, there shall be a committee to administer and manage the fund in accordance with the scheme, the minister said.

The fund shall be utilised for promotion of depositors’ interest and for such other purposes which may be necessary for promotion of depositors’ interest, as specified by RBI.

Replying to another question, Chaudhary said the government has no plans of launching Exchange Trade Funds (ETFs) for respective Virtual Digital Assets (VDAs) in order to integrate them into mainstream financial market.

The Reserve Bank of India (RBI) has issued advisories warning users, holders, and traders of virtual currencies or crypto assets about the potential risks, including economic, financial, operational, legal, and security concerns, he said.

Further, he said, "RBI vide its circular dated May 31, 2021, has also advised its regulated entities to continue to carry out customer due diligence processes for transactions in VCs, in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT), obligations under Prevention of Money Laundering Act (PMLA), 2002, etc."

As on March 31, 2025, the total number of women enrolled as Bima Sakhi is 1,48,888 out of which nearly 15 per cent i.e. 13,528 and 8,964 pertain to Maharashtra and Madhya Pradesh respectively, he said in reply to another question.

Further, he said, all Bima Sakhi agents go through training within 3 months of their appointment as per the provisions of the scheme.

As on March 31, 2025, he said, 60.13 per cent of total premium collected by Bima Sakhis, is from rural areas.

Further, at present nearly 25 per cent of panchayats have minimum one Bima Sakhi agent, indicating their outreach in rural areas, he said.

Bima Sakhi Yojana, being an initiative of LIC, is being promoted throughout the country by LIC’s various branches and divisional offices, traditional and digital media and by pitching in public forums.